Shareholders with $100,000 losses or more are encouraged to contact the firm.
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Atlassian Corporation (“Atlassian” or the “Company”) (NASDAQ: TEAM) investors concerning the Company’s possible violations of federal securities laws.
On November 3, 2022, Atlassian disclosed that “[b]ased on the macro headwinds,” the Company was “lowering [its] Cloud revenue growth outlook to a range of approximately 40% to 45% year-over-year” for fiscal year 2023. The Company further explained that it had seen a “decrease in the rate of Free instances converting to paid plans” and that it had experienced a “slowing in the rate of paid user growth from existing customers.”
On this news, Atlassian’s stock price fell $50.44, or 29%, to close at $123.73 per share on November 4, 2022, thereby injuring investors.
If you purchased Atlassian securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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